Naim Holdings sues Education Ministry, Sebiro Holdings for RM12.43 million

PETALING JAYA:Naim Holdings Bhd's wholly owned subsidiary Naim Engineering Sdn Bhd is suing the Education Ministry and Sebiro Holdings Sdn Bhd for over RM12.43 million in relation to the construction and renovation of boarding schools project in Sarawak.
Naim told Bursa Malaysia that the claims are related to the payment for work done including variation and the release of retention sum.
The various schools under the school project were completed on various dates and Certificates of Practical Completion as well as Certificates Making Good Defect were issued.
Naim said no operational impact could arise from the arbitration.
Its shares fell 5.3% to close at RM1.08 on Friday with some 245,700 shares done.